Diesel price would have hit GH¢28 per litre without Gov't's intervention – NPA's CEO
According to him, government has so far spent close to GH¢1 billion to absorb part of the sharp rise in international petroleum prices to prevent the full cost from being passed on to motorists.
On September 19, the CEO of the National Petroleum Authority (NPA), Godwin Edudzi Tameklo, revealed that the diesel price could have reached GH¢28 per litre at the pumps if the government had not intervened. The intervention from the government has saved motorists from bearing the full brunt of the sharp increase in international petroleum prices.
According to Tameklo, the NPA has spent nearly GH¢1 billion to absorb part of the surge in global fuel costs to prevent it from being passed onto consumers. The main pressure on local fuel prices, according to Tameklo, has been the steep rise in Free On Board (FOB) prices on the international market. A metric tonne of diesel that sold at US$794 in February 2026 is now priced at US$1,519 per tonne, almost double, due to geopolitical tensions, rising supplier premiums, insurance and crew costs through the Strait of Hormuz.
The NPA boss emphasized that government's GH¢2 per litre intervention on diesel is currently keeping pump prices below GH¢20 per litre in many outlets, effectively providing motorists with GH¢20 in direct support for every 10 litres they purchase.
Written by urgent.news from 3News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
